Pent-up demand, moderating interest rates, and a lack of existing inventory helped push single-family starts in February to their highest level since April 2022. Overall housing starts increased 10.7% in
A lack of existing inventory that continues to drive buyers to new home construction, coupled with strong demand and mortgage rates below last fall’s cycle peak, helped push builder sentiment
Over the first month of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 75,906. On a year-over-year (YoY) basis, this is an increase of 43.1% over
Led by larger urban metro markets, single-family growth rates are showing signs of a turnaround as moderating mortgage rates and a lack of existing inventory are contributing to a gradual
NAHB analysis of Census data shows that private residential construction spending rose 0.2% in January 2024, the second month of gains in a row. It stood at a seasonally adjusted
An expected impact of the virus crisis was a need for more residential space, as people use homes for more purposes including work. Home size correspondingly increased in 2021 as
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates a slowing market for custom home building after a recent gain in market share. There
Single-family built-for-rent construction accelerated at the end of 2023, as builders sought to add additional rental housing in a market facing elevated mortgage interest rates. According to NAHB’s analysis of
Expectations that mortgage rates will continue to moderate in the coming months, the prospect of future rate cuts by the Federal Reserve later this year, and a protracted lack of
Over 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 909,227. On a year-over-year (YoY) basis, this is 6.5% below the December 2022 level of 972,180. Year-to-date
NAHB analysis of Census data shows that private residential construction spending rose 1.4% in December, marking three months of gains. It stood at a seasonally adjusted annual pace of $911.7
According to the January 2024 survey for the NAHB/Wells Fargo Housing Market Index, high interest rates were a significant issue for 90% of builders in 2023, and 77% expect them
In a sign that lower mortgage rates continue to boost the housing market, single-family production surpassed the million mark for the second straight month in December. According to a report
Mortgage rates well under 7% over the past month have led to a sharp increase in builder confidence to begin the new year. Builder confidence in the market for newly
Over the first eleven months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 843,654. On a year-over-year (YoY) basis, this is 8.5% below the November
NAHB analysis of Census data shows that private residential construction spending rose 1.1% in November, after an increase of 2% in October. It stood at a seasonally adjusted annual pace
Over the first ten months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 773,526. On a year-over-year (YoY) basis, this is 10.7% below the October
The Census Bureau’s latest Survey of Construction (SOC) shows small changes in the share of number of bedrooms for new single-family homes in 2022 compared with the previous year. The